How much interest (to the nearest dollar) would be saved on the following loan if the condominium were financed for 15 rather than 30 years? A $269,000 condominium bought with a 30% down payment and the balance financed for 30 years at 5.05% $=

Q: Jimmie has a job at an advertising agency earning $54,000 per year. Jimmie is currently 26 years old…

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Q: You can get a car loan with a term of three years at an apr of 3%. If you can afford a monthly…

A: Given: interest rate per annum is= 3%, monthly payment= $300, time=3 years To find the amount of…

Q: Corey would like to purchase a new car for $28,000.  How much will his monthly payments be if he…

A: Given that: Principal amount of loan, P=$28000TIme period of loan = 5 yearsRate of interest, r=5.75%

Q: You take out a loan of $59,000 for a term of two years at 11% interest compounded annually. What is…

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Q: Nina and Michael have been approved for a $300,000 30-year mortgage with an APR of 5.25%. How much…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: If you buy a computer directly from the manufacturer for $2,838 and agree to repay it in 36 equal…

A: Please refer to the image below

Q: If $10,500 is borrowed for 5 years at an annual simple interest rate of 1.73%, how much interest…

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Q: For the car loan described, give the following information. A newspaper advertisement offers a…

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Q: If you have been hired at an annual salary of $23,000 and expect to receive annual increases of 5%,…

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Q: If you pay your friend 15$ each month for 20 months to repay a loan, what is the total cost of the…

A: Explanation of the answer is as follows

Q: If a family borrows $12,033 for an addition to their home, and the loan is to be paid off in monthly…

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Q: Nanette buys a $5000 20-year bond that has a coupon rate of 2.5%.If she keeps the bond to…

A: We have to find

Q: If you were investing money in an account and the interest rate was the same either way, would you…

A: If the same amount of money is deposited and the same rate of interest is applied then: Simple…

Q: Steph took out a simple interest loan that charges 8.5% interest annually. If her original loan…

A: Given: Loan amount is, P=$30000. Simple interest rate is, r=8.5%. Number of years, n=20 years. The…

Q: For items 6-7. Mrs Shiirley Abundo borrowed 20, 000.00 at 7.5% compounded quarterly certain…

A: We will use the concept of compound interest to solve this problem.

Q: How much will you pay on interest if you buy a $213,000 home on 4.6% interest with monthly payments…

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Q: John wants to retire with $10,000 per month, how much principal is necessary to generate this amount…

A: Use the formula I=Prt100, where P is principal, and r is the rate of interest, t is the time.,…

Q: If you can afford to make payments of $350 per month for four years. What is the largest amount of a…

A: Given Monthly payment(P)=$350Annual Percentage Rate(APR)=5%n=4 years=48  monthsNow use the…

Q: How much interest (to the nearest dollar) would be saved on the following loan if the home were…

A: We will find out the required value.

Q: A lending company advertises that for a fee of P10, you can immediately borrow up to P200 for one…

A: The formula relates present value(P), future value(F), interest rate(i) and the number of years(n)…

Q: Suppose you have a $175,000 30-year mortgage with a 4.5% interest rate on the loan. b. How much will…

A: Given that, the loan amount is P=$175,000, interest rate r=4.5%, time n=30 years and due is monthly…

Q: You can get a car loan with a term of three years at an APR of 5%. If you can afford a monthly…

A: Given, Loan term = 3 years = 3×12 = 36 months  APR = 5 %  Monthly payment = $ 600  We have to find…

Q: An individual borrowed ​$78,000 at an APR of 3​%, which will be paid off with monthly payments of…

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Q: If the interest rate on a $5,000 loan is 10%, what is the total amount due (principal and compound…

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Q: A tricycle costs ₱ 120,000.00. A young engineer availed one but by installment payments. If the…

A: given PV=120,000 PMT=3000 monthly payment i=1.5 % i=1.5100×12 =0.00125 claim- find the number of…

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A: The solution is given below

Q: Find the simple interest on a loan of 12,500 that is borrowed at 9% for 7 months.How much would it…

A: This question related to simple interest and solution is given below.

Q: John wants to retire with $10,000 per month, how much principal is necessary to generate this amount…

A: John wants to retire with $10,000 per month.Interest rate is 3%.To calculate:- principal that…

Q: If John wants to retire with $10,000 per month, how much principal is necessary to generate this…

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Q: Imelda took a loan of Php950,000 from a financial institution to purchase a TV set. If the the…

A: Formula of compound interest: A=P1+rnnt where, A= Final amount P= Initial amount r= rate of interest…

Q: A loan of 28,900 is obtained for 5 months at 8 3/5 %. How much is the simple interest?

A: Given that : a loan of 28,900 is obtained for 5 months at 8 3/5 %. We find the simple interest.

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A: Loan amount = 264,000 x (70%) = 184,800 Let's assume the monthly payments (EMIs) are made to pay…

Q: If $600 is borrowed and the interest after 24 months is $120, what is the annual interest rate for a…

A: Solution

Q: A couple can afford to make a monthly mortgage payment of $650. If the mortgage rate is 9% and the…

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Q: Mr. Smith buys a television that is listed for $1500. He pays $500 down and pays the balance in 12…

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Q: As a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

A: Given: Initial amount (P)= $10,000 Rate of interest (R)=7% Time period (t)=18   The formula for…

Q: ) If you have been hired at an annual salary of $23,000 and expect to receive annual increases of…

A:

Q: As a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

A:

Q: After paying his down payment, Leo takes out a $320,000 mortgage at 3.6% compounded monthly for 30…

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Q: Mary and Kevin buy a vacation home for $350,000 down and take out a 15- year mortgage for the…

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Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A:

Q: You can get a car loan with a term of three years at an APR of 4%. If you can afford a monthly…

A:

Q: If you paid $54 to a loan company for the use of $1,040 for 42 days, what annual rate of interest…

A: We will use the Simple Interest Formula to calculate the annual rate of interest. Simple Interest…

Q: How much will you pay on interest if you buy a $217k home on 3.5% interest with monthly payments on…

A:

Q: Ernie Rolph borrowed ​$7400 at 8​% annual simple interest. If exactly 1 year later he was able to…

A: Consider a person who borrows $7400 at 8% annual simple interest. He is able to repay the loan…

Q: If you borrowed $12,000 for 8 months at 7% annual simple interest, how much must you repay at the…

A: Using the formula A = P (1+r)t Where A : amount to be paid               P : Principal that is…

Q: If John wants to retire with $10,000 per month, how much principal is necessary to generate this…

A: Given interest per month =$10000 Interest per year =10000x12=$120000 Rate of interest per year =4%

Q: If you borrowed $10,000 for 9 months at 12% annual simple interest, how much must you repay at the…

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Q: A man pays P 129,254  every end of six (6) months for a car bought on installment terms. If the man…

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Q: If you buy a computer directly from the manufacturer for $2,612 and agree to repay it in 48 equal…

A: